today announced that the right issue is done and they expect 60000 ounces by mid 2005 and by the end of 2005 120 000ounces per annum thats 2mil a month profit.
plus copper as well
11:58, Friday, 24 December 2004
Sydney - Friday - December 24: (RWE Australian Business News) -
SMC Gold shipped 774 Dry Metric Tonnes (DMT) of Copper Concentrate in
November.
The copper concentrate was delivered for an estimated value of
US$440,126 (AU$587,000).
The average grade of the concentrate shipped was 19.7% copper,
3.34 g/t gold and 190.60 g/t silver.
In mid November, plant production was delayed by an interruption
to the water supply.
The company has rectified the problem in early December – long
term water availability is excellent.
December production, which is normally reduced by the season’s
activities, is expected to exceed 1,000 DMT.
Notwithstanding the short-term water problem, the November
outcome demonstrates that plant capability is increasing and that the
production rate target of 1500 tpd by May 2005 remains on track.
ENDS
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this is the best buy for 2005
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